When I bought my bass, it came with a surface finisher (beeswax). I've been waxing my bass about once every month/month and a half.
Why should I wax my bass and how often is it recommended I do it?
Having done some homework, your bass has no lacquer or paint as a finish - it's natural wood. As such, every couple of months it needs a feed/clean and beeswax is the stuff. Not heavily applied, and well rubbed off after, it puts a barrier on to help stop sweat etc., being absorbed into the wood. If you like a well-used look to your guitar, don't bother.(relic'd is in right now !) but to keep it pristine it needs the treatment. Apparently the instructions should have come with the new bass.
Natural Oil Finish: Here you can use the included beeswax. Apply the beeswax with a polishing cloth using circular movements. After applying, wait 2 to 3 minutes and then remove the excess with a dry polishing cloth. The beeswax should be applied a minimum of two times per year, more depending on how frequently theinstrument is played. A more frequent application of beeswax will keep your instrument looking great, as it ages over time.
Tim is right. It's just cosmetic - if you like the look, fine. But I have basses that have seen decades of frequent use that I haven't polished and they're fine.
Guitar repair people will tell you different, I imagine. But they earn their money that way.